SEC 13F Intelligence

Managers / Q4 2025

KEMPNER CAPITAL MANAGEMENT INC.

CIK 0000898399 · 2201 MARKET ST. 12TH FLOOR, PO BOX 119, GALVESTON, TX, 77553 · 409.765.6671

Reported Value
$106M
Q4 2025
Positions
43
Filings on Record
29
2019–present window
Filed
Jan 12, 2026
original filing

Summary

Kempner Capital Management Inc. reported $106M in U.S.-listed holdings across 43 positions for Q4 2025.

Its largest position, MU, represents 7.6% of the portfolio.

Compared with Q3 2025, the fund opened 0 new positions and exited 5.

Portfolio Metrics

Turnover
+3.7%
vs prior filed quarter
Top-10 Concentration
+43.8%
share of reported value
Largest Position
+7.6%
Micron Tech

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $145MQ4 ’18Q1 ’19: $151MQ2 ’19: $153MQ3 ’19: $147MQ4 ’19: $154MQ4 ’19Q1 ’20: $115MQ2 ’20: $127MQ3 ’20: $125MQ4 ’20: $151MQ4 ’20Q1 ’21: $174MQ2 ’21: $176MQ3 ’21: $175MQ4 ’21: $170MQ4 ’21Q1 ’22: $183MQ2 ’22: $164MQ3 ’22: $151MQ4 ’22: $165MQ4 ’22Q1 ’23: $171MQ2 ’23: $156MQ3 ’23: $166MQ4 ’23: $179MQ4 ’23Q1 ’24: $184MQ2 ’24: $189MQ3 ’24: $195MQ4 ’24: $182MQ4 ’24Q3 ’25: $120MQ4 ’25: $106Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 69.7%ADR: 11.0%Other: 7.6%MLP: 5.9%REIT: 3.7%Other: 2.1%
  • Common Stock · 69.7% · $74M
  • ADR · 11.0% · $12M
  • Other · 7.6% · $8M
  • MLP · 5.9% · $6M
  • REIT · 3.7% · $4M
  • Other · 2.1% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SONSONOCO PRODUCTS COADDED+28.0K52.9K+$1M$2M
FMCFMC CORPSOLD OUT−73.3K0−$2M$0
BAXBAXTER INTL INCSOLD OUT−62.4K0−$1M$0
LYONDELLBASELL INDUSTRIES NSOLD OUT−25.7K0−$1M$0
WBDWARNER BROS DISCOVERY INCSOLD OUT−11.2K0−$218,000$0
SERVICE PPTYS TRSOLD OUT−47.5K0−$129,000$0
CNMDCONMED CORPTRIMMED−43.3K6.3K−$2M$252,000
SLBSLB LIMITEDTRIMMED−48.6K8.0K−$2M$310,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

43 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MUMICRON TECH INChistory →COM7.58%$8M33.8K
2BSMBLACKSTONEMNLS LPhistory →COM5.85%$6M439.3K
3TSMTAIWAN SEMICONDUCTORhistory →ADR5.14%$5M18.9K
4GOOGALPHABET INChistory →COM4.30%$5M14.7K
5TERTERADYNE INCORPhistory →COM4.15%$4M22.5K
6CFRCULLEN FROST BANKERShistory →COM4.03%$4M32.9K
7SENSATATECHHLDGSPLCADR3.34%$4M102.5K
8MRKMERCK & CO. INC.history →COM3.20%$3M33.8K
9CFGCITIZENS FINANCIAL GRPhistory →COM3.15%$3M57.0K
10DISDISNEY (WALT) COMPANYhistory →COM3.10%$3M29.7K
11LNCLINCOLN NATIONAL CORP.history →COM3.04%$3M71.1K
12GPNGLOBAL PAYMENTS INChistory →COM2.93%$3M38.0K
13SHELSHELL PLChistory →ADR2.85%$3M41.7K
14CSCOCISCO SYSTEMS INChistory →COM2.79%$3M37.8K
15TRVCCITIGROUP INChistory →COM2.77%$3M26.0K
16EXMOCEXXONMOBIL CRP XOMhistory →COM2.76%$3M24.8K
17ZBHZIMMERBIOMETHLDGSINChistory →COM2.49%$3M28.5K
18TSNTYSON FOODS INChistory →COM2.49%$3M44.3K
19TFCTRUIST FIN'L CORPhistory →COM2.43%$3M51.8K
20UNHUNITEDHEALTH GROUP INChistory →COM2.35%$2M7.3K
21BACBANK OF AMERICA CORP.history →COM2.35%$2M45.0K
22LLYELI LILLY & COhistory →COM2.34%$2M2.3K
23SONSONOCO PRODUCTS COhistory →COM2.15%$2M52.9K
24EQHEQUITABLE HOLDINGS INC.history →COM2.10%$2M46.0K
25KVUEKENVUE INChistory →COM2.04%$2M125.2K
26EASTERLY GOVERN REITCOM2.02%$2M95.5K
27IFFINT'L FLAVORS&FRGRNCShistory →COM1.95%$2M32.2K
28CHUBB LIMITEDADR1.75%$2M5.9K
29AMCOR PLCADR1.55%$2M198.6K
30OREALTYINCOMEINC REIThistory →COM1.48%$2M26.9K
31BPBP PLC ADShistory →ADR1.41%$1M42.3K
32EOSEEOS ENERGY ENTRP INChistory →COM1.32%$1M102.5K
33ISRA VANECK ETF TRETF1.26%$1M22.5K
34RIORIO TINTO PLChistory →ADR1.20%$1M16.8K
35EVEREST GROUP LTDADR0.94%$999,0003.0K
36KMIKMI KINDER MORGAN INCCOM0.71%$754,00028.2K
37FANGDIAMONDBACKENRGYINCCOM0.69%$725,0004.7K
38AWPAXAWPAX AB SUST INTL THEMATIC AMMF0.49%$520,00024.5K
39BHPGROUPLMT ADRADR0.41%$438,0007.4K
40SBI WESTERN ASSET INTERM MUNIMMF0.35%$371,00047.8K
41SLBSLB LIMITEDADR0.29%$310,0008.0K
42CNMDCONMED CORPCOM0.24%$252,0006.3K
43PKPARK HOTELS&RESORTSINCCOM0.23%$242,00022.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q4 2025$106M43Jan 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$120M48Oct 16, 202513F-HRchanges · EDGAR ↗
Q2 2025Under review47Jul 15, 202513F-HRchanges · EDGAR ↗
Q1 2025Under review49Apr 21, 202513F-HRchanges · EDGAR ↗
Q4 2024$182M49Jan 23, 202513F-HRchanges · EDGAR ↗
Q3 2024$195M51Oct 21, 202413F-HRchanges · EDGAR ↗
Q2 2024$189M50Jul 19, 202413F-HRchanges · EDGAR ↗
Q1 2024$184M51Apr 11, 202413F-HRchanges · EDGAR ↗
Q4 2023$179M54Jan 24, 202413F-HRchanges · EDGAR ↗
Q3 2023$166M57Oct 19, 202313F-HRchanges · EDGAR ↗
Q2 2023$156M55Jul 18, 202313F-HRchanges · EDGAR ↗
Q1 2023$171M56Apr 21, 202313F-HRchanges · EDGAR ↗
Q4 2022$165M60Jan 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$151M61Oct 11, 202213F-HRchanges · EDGAR ↗
Q2 2022$164M61Jul 19, 202213F-HRchanges · EDGAR ↗
Q1 2022$183M57Apr 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$170M50Jan 18, 202213F-HRchanges · EDGAR ↗
Q3 2021$175M53Nov 1, 202113F-HRchanges · EDGAR ↗
Q2 2021$176M51Jul 23, 202113F-HRchanges · EDGAR ↗
Q1 2021$174M48Apr 27, 202113F-HRchanges · EDGAR ↗
Q4 2020$151M45Jan 5, 202113F-HRchanges · EDGAR ↗
Q3 2020$125M46Oct 6, 202013F-HRchanges · EDGAR ↗
Q2 2020$127M46Jul 15, 202013F-HRchanges · EDGAR ↗
Q1 2020$115M51Apr 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$154M49Jan 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$147M48Oct 4, 201913F-HRchanges · EDGAR ↗
Q2 2019$153M50Jul 8, 201913F-HRchanges · EDGAR ↗
Q1 2019$151M48Apr 5, 201913F-HRchanges · EDGAR ↗
Q4 2018$145M49Jan 9, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.